Russel Metals Inc. (OTCMKTS:RUSMF – Get Rating) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 156,300 shares, a decrease of 26.3% from the March 15th total of 212,000 shares. Based on an average daily trading volume, of 2,000 shares, the short-interest ratio is currently 78.2 days.
Shares of RUSMF traded up $1.40 on Tuesday, reaching $27.13. The stock had a trading volume of 909 shares, compared to its average volume of 3,034. The firm has a 50-day moving average of $25.59 and a 200 day moving average of $26.01. Russel Metals has a twelve month low of $21.69 and a twelve month high of $29.92.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Russel Metals from C$34.00 to C$36.00 in a research note on Monday, February 14th. TD Securities raised Russel Metals from a “hold” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus increased their target price on Russel Metals from C$36.00 to C$37.25 in a research note on Wednesday, March 30th. Finally, Royal Bank of Canada increased their target price on Russel Metals from C$40.00 to C$41.00 in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $38.71.
Russel Metals Inc operates as a metal distribution company in North America. The company operates through three segments: Metals Service Centers, Energy Products, and Steel Distributors. The Metal Service Centers segment sells plates, flat rolled carbon, stainless steel, aluminum, and other non-ferrous specialty metal products, as well as general line steel products, such as plates, structural shapes, bars, sheets, pipes, tubing, and hollow structural steel tubing.
- Get a free copy of the StockNews.com research report on Russel Metals (RUSMF)
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